Haasbot Automatically Executes Bitcoin Trades
Cryptocrooks has been given the exclusive chance to review the newest unreleased beta of Haasbot. Haasbot is a bitcoin bot created specifically for cryptocurrency trading. For a day trader, this program utilizes technical indicators in order to issue buy or sell orders. This bot is recommended for those familiar with financial technical analysis indicators (or who want to learn). By utilizing technical indicators, the bitcoin bot issues trades using API access. Currently, the following fully supported exchanges are ANX, Camp-BX, Kraken, Bitfinex, CEX.IO, Bitstamp, Cryptsy, BitTrex, Poloniex, BTC-e, and Huobi. The following exchanges that support price tracking only are Mintpal, Okcoin, and HitBTC, which is good for creating a bot that looks at prices on multiple exchanges.
Automated Trading Bitcoin Bot Features
The latest version of this bitcoin bot is Haasbot 1.0.19 beta and includes new features such as Arbitrage Bots and Order Bots. Arbitrage bots are setup to look for profitable trades between cryptocurrencys and make trades based off profit thresholds. Order bots are user defined to issue trades based on user-set amounts and pricing. These new features allow investors new ways to manage their cryptocurrency portfolio, by integrating hedge fund strategies like arbitrage.
Bitcoin Technical Analysis Trading and Strategies
The real power of the Haasbot bitcoin bot lies within the trade bots, because of its ability to utilize familiar technical analysis with automated trading There are three tools that can be selected from which the trading will be executed on based on these settings. Safeties , Indicators, and Insurances. Creating a new bitcoin trading bot is simple, just choose a transaction currency (ex: LtcBtc), amount (fixed-rate, percentage by bought/sold currencies, or all-in), and past buy/sell pricing (not necessary). Set the trading position based on your account, bought to sell, or sold to buy. It is recommended to implement safeties such as Dynamic Drop Loss and Dynamic Roof Out protections for obvious reasons. Safeties are the guidelines used to protect from losses in case market conditions go against you. Insurances prevent the bot from making poor trades.
A simple example of an insurance is to consider trading fees, so the bot takes added fees into consideration when making the trades, assuring a profitable trade. Technical indicators provide market analysis based on well-known algorithms that signals the bot when to execute orders. The indicators are the next step, from Aroon Oscillator to Regression Slope Cross indicators; there are a total of twenty-five indicators available on the advanced bot. This is where you can backtest how these indicators make trading decisions, and where you can adjust parameters and update speed. The software allows you to set limits on the amount of cash or cryptocurrency each bot can operate with, so you can allocate funds based on risk and strategy. During our review, we were working with smaller transactions, but profits are usually derived in percentage change. Determining risk for each bitcoin bot allows you to hedge one bot with another. This allows unprecedented control over the automated trading procedure.
Configuring Haasbot for Automated Bitcoin Trading
Once the bot is configured, backtesting can be performed on each indicator for previous time periods on available market data in order to see what kind of performance you can expect before activating the bot in a live trading environment. Backtesting is quite common is trading of stocks of commodities, so it definitely helps one understand how the bot is thinking and allow settings refinement. Haasbot also has an auto-tune feature that adjusts the technical indicators time frame for maximum efficiency, but we recommend using your strategies to guide the settings.
The price is justified by the bitcoin bot’s different and unique features, as well as reliability. With the right amount of experience, this bitcoin bot will be able to help you generate profits with automated trades. Price is not a problem since bitcoin is not exactly scarce, but price fluctuations may make it cheaper on certain days.
The major difference between each version of this bitcoin bot is that the beginner license has a maximum amount of trade-bots that can be active at the same time, a limited number of safeties, technical indicators, and insurance fail safes. With the advanced version, all features are unlocked and you’re able to run an unlimited number of bots at the same time. Cryptocrooks recommends starting with the simple trade bot as a trial to understand the software and if you like it, then upgrade the software.
Haasbot Requirements and Specifics
Haasonline Software’s bitcoin bot is a program that can only be downloaded and installed on a Windows computer, although mac support may occur at some point in time. The bitcoin bot has a classic interface and web interface which runs in the background and accomplishes its tasks without disruption. Haasbot supports Windows Vista, Windows 7 and Windows 8.1. Windows XP and RT are NOT supported. Multi-user support is not allowed under any license, although a single machine may be dedicated to running the bitcoin bot and accessed remotely by multiple users. The software comes with a license for installation on a single computer, valid for the license time period one purchases.
Haasbot offers an automated bitcoin bot trading solution that consists of the most consistent, reliable, feature set on the market at a reasonable subscription payment plan. The goal of utilizing haasbot is to relieve one of the stress of day trading and to minimize risk of market fluctuations for your investments.
“We believe that haasbot, in the right hands, with the correct trade settings, market conditions permitting, is the ultimate bitcoin trading bot.”
In the week since we’ve been given the opportunity to demo the software we’ve achieved a double-digit percentage point profit. With the right knowledge of cryptocurrency exchanges, applicable trading strategies, and some patience, we’re confident that haasbot will prove to be a valuable tool in any cryptocurrency trader’s toolset. We believe that Haasbot will assist a smart individual in minimizing market risk, maximizing trade profits, and reduce time spent glaring at charts. Will you take the blue pill and see how far the rabbit hole goes?
Check out Haas Online Software’s homepage for more info on the haasbot bitcoin trading bot.
Disclaimer: If and when you start trading at first, never put in more than you’re able to lose, and don’t start off with large quantities unless you’re supremely confident in your strategy and have proven the concept as well, even then proceed with caution. Cryptocrooks has reviewed Haasbot as a product for automating trades, not for earning profit. Our outcomes are not guaranteed.